Owlet (NYSE:OWLT) Shares Down 4.9% – Should You Sell?

Owlet, Inc. (NYSE:OWLT) fell 4.9% during trading on Wednesday . The stock traded as low as $4.46 and last traded at $4.46. 217,889 shares traded hands during mid-day trading, an increase of 583% from the average session volume of 31,885 shares. The stock had previously closed at $4.69.

Owlet Stock Down 4.9 %

The business’s fifty day moving average is $4.89 and its two-hundred day moving average is $4.53. The stock has a market cap of $71.52 million, a price-to-earnings ratio of -1.87 and a beta of 1.50.

Institutional Trading of Owlet

Large investors have recently modified their holdings of the stock. Rosalind Advisors Inc. acquired a new stake in shares of Owlet during the 3rd quarter worth about $1,212,000. Corsair Capital Management L.P. purchased a new position in Owlet in the third quarter valued at approximately $2,598,000. Finally, Geode Capital Management LLC raised its holdings in Owlet by 31.0% during the third quarter. Geode Capital Management LLC now owns 58,684 shares of the company’s stock worth $264,000 after purchasing an additional 13,879 shares in the last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.

About Owlet

Owlet, Inc provides digital parenting solutions in the United States and internationally. The company's platform focuses on giving real-time data and insights to parents. It offers Dream Sock, a wearable infant health monitor equipped with pulse oximetry technology to track vitals signs, such as pulse rate, oxygen, activity, and sleep patterns; BabySat which is intended for infants with heightened health risk; Owlet Cam, a monitoring device in smartphones that offers video and audio, predictive sleep insights, and cry detections; and accessories, including Owlet Sleeper, as well as Duo and Dream Duo that combines Smart Sock with the Owlet Cam.